If the population in a country is 182 million, the working-age population is 134 million, the number of employed people is 73 million, and the number of unemployed people is 14 million, then the labor-force participation rate in the country is

Question

Quizplus · Accepted Answer

The labor-force participation rate is the ratio of the working-age population that is either employed or actively seeking employment, to the total working-age population. Therefore, the labor-force participation rate can be calculated as follows:

Labor-force participation rate = (employed + unemployed) / working-age population

= (73 million + 14 million) / 134 million

= 0.59 or 59%

Therefore, the labor-force participation rate in the country is 59%, or 64.9% as a percentage. The correct answer is B.

If the Population in a Country Is 182 Million, the Working-Age